2. We all have visions,goals and dreams,starting with our basiclifestyle ( home, car,vacation, etc. ) to buildingfinancial security,eventually leading to longterm financialindependence.
3. Some of these goals anddreams are for ourselves,some for ourselves and ourspouses, others for ourchildren and for our family.
4. Building your estates Many times during this process it is easy to lose sight of the fact that the goals we envision are predicated on an ongoing, ever increasing, foundation of income.There are risks that could prematurely and unexpectedly,interrupt that income and therefore the accumulationof assets.
5. Triggering eventsWhat is available in your estatein case of death
6. What is available in caseof an interruption toincome triggered bya permanent disabilityor the suffering acritical illness.
7. Many people today survive critical illnessesbut not necessarily the financial hurdlesthat follow.
8. As you age what are the chances ofneeding long term care? • Age 55 : 1 out 10 • Age 65 : 3 out 10 • Age 76 : 5 out 10
9. What assets are best used to replace income?How much income is required?How long can the assets last (adjusted fortaxes and inflation)?
10. Income and estate analysis!At M Bacal Group we do a confidential analysisof assets and liabilities. It is a living estate probateproviding a snapshot of how your estate wouldappear in the event of death. It also provides someperspective as to possible shortfalls should adisability or critical illness unexpectedly occur.
11. After determing the income you wish to leave toyour family and the liabilities you wish cleared, theanalysis determines if your estate is sufficient toaccomplish your objectives .It will determine if there is a shortfall or surplus inyour estate.
12. Other planning issuesAs part of the analysis it isimportant to do a thoughtfullyplanned will. It requiresexamining your estate in termsof current laws, your wishes,specific instructions andbequestsIt is your last message- be sure itis drafted carefully and clearlyexpresses your final intentions.
13. Business Succession With so many people counting on your business, it’s crucial to have a succession plan that can help your business survive the death or disability of an owner, partner or key person. Such a critical situation could have a severe andadverse financial impact on your business and all thepeople you care about
14. During the next two decades, some trillion dollarsof net worth concentrated in the older generation inCanada will change hands from one generationto the next.Much of this wealth is held in the assets ofbusinesses.
15. You have excelled in managing the growthof your business, which has taken time, effort andtalent to build.Don’t leave its succession to chance.The time to plan for the future is today.
16. Conclusions!In order to meet your financial objectives youneed solutions that help you, your familyand /or your business prosper while preservingand protecting what you have built.
17. It is essential that our first step is to get a clearunderstanding of your life long goals, your familyvalues and your business objectives. The followingdescribes the steps we use in our consultingprocess. • Estate analysis and Planning • Financial and Insurance solutions • Business Succession Planning • Creative Corporate insurance and Tax strategies • Tax minimizing Strategies • Philanthropic Planning